Comstock (NYSEAMERICAN:LODE – Get Free Report) announced its earnings results on Wednesday. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07), FiscalAI reports. The company had revenue of $0.37 million for the quarter. Comstock had a negative net margin of 6,016.37% and a negative return on equity of 30.98%.
Here are the key takeaways from Comstock’s conference call:
- Comstock said its Silver Springs recycling facility is operating continuously and ramping toward 25% utilization, a level management expects to cover operating costs. The company cited routine startup issues and said it plans to validate operations and unit economics at that level before scaling further; positive operating cash flow is targeted for 2027.
- Third-quarter revenue was about $367,000, and revenue for the first nine months was about $954,000; the company reported a $753,000 quarterly net loss despite a non-recurring $14 million gain on the mining-asset sale. Comstock also reported $4.6 million in deferred recycling revenue, which management said reflects billed services not yet recognized as revenue.
- Comstock ended September with $43.5 million in cash and restricted cash, $33.3 million in working capital, and no debt. Management said it does not currently expect to need additional common equity over the next 12 months, while the board authorized a buyback of up to 15 million shares; executives stressed there is no immediate repurchase planned.
- The company has started a one-ton-per-day pilot to recover silver from recycling tailings, ahead of its earlier schedule, and expects operating data by year-end or early 2027. Management said the process could materially improve margins, but noted that its economics and scalability have not yet been validated.
- Comstock is working with Newmark to find development partners or financing options for its Sierra Springs land, water, and energy assets, with management expecting greater clarity in the fourth quarter and aiming to move toward a transaction in 2027. The process could unlock value and reduce demands on Comstock’s liquidity, but no transaction or value has been established.
Comstock Stock Performance
Shares of LODE traded up $0.14 during trading hours on Thursday, hitting $1.62. The stock had a trading volume of 1,090,362 shares, compared to its average volume of 1,558,288. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.20 and a quick ratio of 3.20. Comstock has a 12 month low of $1.31 and a 12 month high of $4.98. The firm has a market capitalization of $123.48 million, a PE ratio of -1.59 and a beta of 1.66. The stock has a fifty day moving average price of $2.37 and a 200 day moving average price of $3.19.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of LODE. Rockefeller Capital Management L.P. increased its position in shares of Comstock by 133.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the company’s stock valued at $26,000 after purchasing an additional 4,000 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Comstock in the third quarter worth approximately $34,000. AXQ Capital LP boosted its holdings in shares of Comstock by 36.6% in the second quarter. AXQ Capital LP now owns 18,407 shares of the company’s stock worth $77,000 after buying an additional 4,936 shares during the last quarter. Torrey Growth & Income Advisors boosted its holdings in shares of Comstock by 19.5% in the third quarter. Torrey Growth & Income Advisors now owns 41,680 shares of the company’s stock worth $99,000 after buying an additional 6,794 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in Comstock during the second quarter valued at approximately $278,000. Institutional investors own 7.96% of the company’s stock.
Comstock Company Profile
Comstock Inc is a technology and natural resources company focused on developing solutions for the energy transition and the decarbonization of industrial processes. Its business activities include renewable fuels, battery-metal recovery and mineral development, with operations and projects primarily connected to the United States.
Through Comstock Fuels, the company is developing technologies designed to convert woody biomass and other lignocellulosic materials into low-carbon fuels, including sustainable aviation fuel and other renewable fuel products.
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